13 Nov 2014
Head of public sector, charities and not-for-profit, Spence & Partners
David is a director at Spence & Partners Actuaries and Dalriada Trustees.
He performs the role of a professional pension scheme trustee and specialises in providing pensions advice to charities and not-for-profit organisations, especially those who run their own final salary schemes or who participate in the LGPS and multi-employer schemes.
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Recent changes in the law around pensions and wills could have a significant impact on how much money is available for charitable legacies. David Ainsworth examines what’s changed.
A new way of calculating PPF levies for not-for-profit organisations is likely to save most charities money, says David Davison, but a few could be big losers.
New clarity in the provisions of Growth Plan 3 means that charities in the scheme need to make sure they understand their position and the associated risks and costs, says David Davison.
Last month charities under the London Pension Fund Authority scheme saw their payments sharply rise due to changes to how their debt and risk of default is calculated. David Davison warns other local government pension schemes could follow suit.
Pension contributions have more than doubled to around a third of pensionable salaries for some charities with employees in the local authority pension scheme for London.